Oklahoma home values continued to increase — slightly — in the fourth quarter of 2007, as values in much of the nation slipped more and values in some formerly hot housing markets continued to plunge.
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That’s according to figures released Tuesday from the Office of Federal Housing Enterprise Oversight.
Nationally, the agency’s all-transactions house price index, which includes home sales and refinancings, showed a tiny increase of 0.1 percent compared with the third quarter of 2007 and an increase of 0.8 percent compared with the fourth quarter of 2006.
In Oklahoma, values rose 0.81 percent over the quarter and 5.2 percent over the year.
In Oklahoma City, values rose 0.63 over the quarter and 4.59 percent over the year.
In Tulsa, values rose 0.59 over the quarter and 4.97 percent over the year.
Nationally, the agency’s purchase-only house price index showed prices 1.3 percent lower in the fourth quarter compared with the third quarter, and 0.3 percent lower compared with the fourth quarter of 2006.
Both indices were at great odds with another index released Tuesday, the Standard & Poor’s/Case-Shiller index.
The S&P/Case-Shiller index showed a national home price decline of 8.9 percent over the year and a drop of 5.4 percent over the quarter. However, the S&P/Case-Shiller index collects data only from major cities and not from every state.
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Wow. This proves that when you're at the bottom of the barrel, the only way out is 'up'. But I have faith the morons that run this state will make sure that nobody, except okies, want to live here. Just look at the pathetic job of the crosstown realignment they have that people are proud of? Makes me think if Li'l Abner's cartoon today http://comics.com/comics/lilabner/archive/lilabner-20551028.html
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Leave a comment. Log in below or sign up (it's free).Editor's note: It is not our intent to offer comments on crime or fatality stories.